Check out our Getting Started with thinkorswim playlist from Schwab Coaching: th-cam.com/play/PL8a6s5nq1lPTMHmq7rNVIQE9mqyhsxD5I.html&si=pc16ElAnznd-mFea ^BW
should include the log-in screen to show how to switch to paper money. i found no option to select so it keeps having me go through the sign in procedure to get into my account.
On the login screen you need to look at the bottom and choose either Live Trading or paperMoney. Whatever was selected the previous time stays as the default. ^CH
@@CharlesSchwab then that totally beats the purpose to practice. So I cannot exercice an option as practice and make fake money to know if I am losing or winning ?
Hi Jamz. You'll want to use the Monitor Tab/Account Statement/Trade History. That will list the basic dollar exchanges. You can set the period of time as well as particular ticker symbols. To see all the commissions and fees, go to the Cash & Sweep Vehicle and you'll see those fees by date. ^CH
Paper money does have commissions however it is for educational purposes so commissions and other fee you might see in paper money is not may not accurately reflect the similar costs in a live account. Thanks. ^BC
Help. I don’t know if I’m on the simulator or not I select the tab in the upper left corner, I see “paper money” with an amber bar underneath then 2 accounts; IRA and margin? The Schwab call button does not work.
The PM in the top left let's you know you are in the simulation database. After clicking on the telephone button, click on Create support request and type out your question with the support staff.
You can create an Iron Condor in a similar fashion to the vertical spread by simply creating the spread trade order then holding down the control key and adding the other two legs for the iron condor. ^BC
Thank you for reaching out. First, it will depend on your account setup and which you logged into. If you logged into the paper money option of your account, along the top of the top of the screen you should see where is says "Account", to the right of that there is a little drop down arrow to switch accounts. In a live account the function will only be available if you have multiple accounts. If you feel there is an error or for direct support with reviewing your account, please call 800-435-4000 or initiate a secure chat session on Schwab.com. ^BC
It does not matter which account you select, but you DO have to have made a trade and have a position to view. So place an order, and once you do that, the Adjust Account button will appear.
Thank you for your question. If you are looking for live data on options contracts there are some ways the data can be provided but it can depend on the account you have. The best way to explore your options is to call us at 800-435-4000 and allows us to assist you personally. ^BC
@CharlesSchwab I appreciate the link, but again my thinkorswim looks nothing like this one. Maybe it's something in my settings or maybe you're not using the current app?
Yes please update the video. The options training is also using the older UI so no way to know how to start an options trade. Even text instructions would help until you can generate a video. @charlesSchwab
No dice on that account adjustment! Still no available option to change the dollar amount in the trade account (even after entering a trade). How do you adjust the account dollars? And please make it easier to adjust the dollar amount on the TOS Platform. It shouldn't be this difficult to find and/ or adjust. And the 100k starting off is never a realistic number to begin with in practice accounts. Thanks!
You should be able to modify account funds in thinkorswim paper money by first changing the account type along the top of the screen to something other than "All Accounts". Next, go to the monitor tab and find a position, right click on the ticker symbol, one of the options will be "Adjust cash". ^BC
There are backtesting capabilities with the thinkorswim desktop platform, which you can have access to with a Schwab account. Here is the link: www.schwab.com/trading ^MF
Give us a call so we can fully understand your situation and see what we can offer for you. You can contact us at 1-800-435-4000, or log in to Schwab.com to initiate a secure chat for assistance. Representatives are available 24/7. Thank you! ^BC
Hello and thank you for reaching out. While we can only offer limited support through social media, our specialists are happy to assist. To discuss your concern with a broker, please call 800-435-4000. ^CH
Thank you for your feedback, we can look to incorporate it into future videos but one thing you might want to try on existing videos is change the playback speed on TH-cam to 1.25 or 1.5. ^BC
Very interesting. It will take me hours to totally figure this out.
thinkorswim menu seems updated on the site. as a virtual learner this old menu layout isnt helping
Check out our Getting Started with thinkorswim playlist from Schwab Coaching: th-cam.com/play/PL8a6s5nq1lPTMHmq7rNVIQE9mqyhsxD5I.html&si=pc16ElAnznd-mFea ^BW
@@CharlesSchwab The issue is with ToS Web, thats where CS makes frequent updates to the menu structure - super frustrating.
should include the log-in screen to show how to switch to paper money. i found no option to select so it keeps having me go through the sign in procedure to get into my account.
On the login screen you need to look at the bottom and choose either Live Trading or paperMoney. Whatever was selected the previous time stays as the default. ^CH
can you exercise an option when paper trading? I can't find it
In the thinkorswim paperMoney platform you cannot exercise options. ^MF
@@CharlesSchwab then that totally beats the purpose to practice. So I cannot exercice an option as practice and make fake money to know if I am losing or winning ?
@@ae86takumi Nope.
@@ae86takumiwhy do u want to do that? Once ur ITM u can sell it and make the same money as if u exercised it.
How do you view your past trades in paper money, with commisions and p/l?
Hi Jamz. You'll want to use the Monitor Tab/Account Statement/Trade History. That will list the basic dollar exchanges. You can set the period of time as well as particular ticker symbols. To see all the commissions and fees, go to the Cash & Sweep Vehicle and you'll see those fees by date. ^CH
I recommend making a new video every time you make a new U.I update
Does it take into account of commission or fees in paper trading?
Paper money does have commissions however it is for educational purposes so commissions and other fee you might see in paper money is not may not accurately reflect the similar costs in a live account. Thanks. ^BC
Hi , where can we download or make a paper money account? Thanks@@CharlesSchwab
Can you do paper trading options in Active Trader?
Yes, the Active Trader functions work for option trading in paperMoney, as long as the option symbol is used.
Help. I don’t know if I’m on the simulator or not I select the tab in the upper left corner, I see “paper money” with an amber bar underneath then 2 accounts; IRA and margin? The Schwab call button does not work.
The PM in the top left let's you know you are in the simulation database. After clicking on the telephone button, click on Create support request and type out your question with the support staff.
What about the iron condor?
You can create an Iron Condor in a similar fashion to the vertical spread by simply creating the spread trade order then holding down the control key and adding the other two legs for the iron condor. ^BC
Thanks 🎉
Is this on the Desktop version or the web version?
It is the desktop version. ^BC
For some reason mine doesn’t have the Adjust account nowhere to be found. Where could it be?
Thank you for reaching out. First, it will depend on your account setup and which you logged into. If you logged into the paper money option of your account, along the top of the top of the screen you should see where is says "Account", to the right of that there is a little drop down arrow to switch accounts. In a live account the function will only be available if you have multiple accounts. If you feel there is an error or for direct support with reviewing your account, please call 800-435-4000 or initiate a secure chat session on Schwab.com. ^BC
Thank you!!!
It does not matter which account you select, but you DO have to have made a trade and have a position to view. So place an order, and once you do that, the Adjust Account button will appear.
Thank you. Is there any broker/third party service who can provide "live change in open interest contracts" in a "separate column"?
Thank you for your question. If you are looking for live data on options contracts there are some ways the data can be provided but it can depend on the account you have. The best way to explore your options is to call us at 800-435-4000 and allows us to assist you personally. ^BC
How come it does show delta?
I do appreciate the video and learning about options. However, the new UI is less intuitive. It is nothing like this video.
Check out our webcasts that cover Getting Started with thinkorswim. th-cam.com/play/PL8a6s5nq1lPTMHmq7rNVIQE9mqyhsxD5I.html&si=vHV_ULmt_6loZkLr ^BW
@CharlesSchwab I appreciate the link, but again my thinkorswim looks nothing like this one. Maybe it's something in my settings or maybe you're not using the current app?
Yes please update the video. The options training is also using the older UI so no way to know how to start an options trade. Even text instructions would help until you can generate a video. @charlesSchwab
Glad I found this out about this regarding paper money 2 weeks after my 30 day simulator time started.
FYI- Stock Market is open 9-4 weekdays EST.
@jerrytownsend1396 Actually the stock market opens at 9:30 am eastern not 9:00 am.
No dice on that account adjustment! Still no available option to change the dollar amount in the trade account (even after entering a trade). How do you adjust the account dollars? And please make it easier to adjust the dollar amount on the TOS Platform. It shouldn't be this difficult to find and/ or adjust. And the 100k starting off is never a realistic number to begin with in practice accounts. Thanks!
You should be able to modify account funds in thinkorswim paper money by first changing the account type along the top of the screen to something other than "All Accounts". Next, go to the monitor tab and find a position, right click on the ticker symbol, one of the options will be "Adjust cash". ^BC
Can anyone share me all the US based platform used for backtesting?
There are backtesting capabilities with the thinkorswim desktop platform, which you can have access to with a Schwab account. Here is the link: www.schwab.com/trading ^MF
I used this before, and found now I can’t use it anymore. I live in Canada. Could you confirm that this can’t be used in Canada?
Give us a call so we can fully understand your situation and see what we can offer for you. You can contact us at 1-800-435-4000, or log in to Schwab.com to initiate a secure chat for assistance. Representatives are available 24/7. Thank you! ^BC
¿How can I open a paper money account?
You can try it out for a month with this link. ^BC
www.schwab.com/trading/thinkorswim/guestpass
please make it easy for the withdrawal gateway or increase more methods to move money.
Hello and thank you for reaching out. While we can only offer limited support through social media, our specialists are happy to assist. To discuss your concern with a broker, please call 800-435-4000. ^CH
There's too much delay on paper money. Even after you cancel an operation still get filled five seconds later. Don't like it.
Any way you could talk a little faster?
Thank you for your feedback, we can look to incorporate it into future videos but one thing you might want to try on existing videos is change the playback speed on TH-cam to 1.25 or 1.5. ^BC
the speed is fine buddy.
Increase/decrease the playback speed on any video using the gear icon in the top right corner.